Can I retire at age 60 with 890,000?

Use the below retirement simulation to view the chances of a successful retirement.
About Your Retirement ?
Current Age
Retirement Age
Current Savings $
Annual Deposits $
Annual Withdrawals $
Stock market crash:
Portfolio ?
% in Stocks:
% in Bonds:
% in Cash:
Modify Stock Returns:
0%
Modify Bond Returns:
0%
Modify Cash Returns:
0%
Modify Inflation:
0%
How much money do I need to retire?

This retirement calculator runs simulations based on past data from the S&P 500, 10 Year Treasury Bond, 3 month T-Bill, and US inflation. For each year of each simulation, a random return and inflation amount is chosen.

How to use: Enter your current age and the age when you retire. Then enter your current savings, the amount that you can save annually before you retire, and the amount that you plan to withdraw after retirement. Your annual deposits and withdrawals take inflation into account. For example, if you need $50,000 to live on in retirement using today's dollars, we will automatically take into account the cost of living for your retirement years. The same is true for your annual deposits. Next, decide if you'd like to simulate a stock market crash.

In the portfolio section, choose the makeup of your portfolio with stocks, bonds, and cash. Cash assumes that your money is stored in a savings account. You can then alter the future returns and inflation. For example, if the market has historically returned about 10%, but you think the future will be worse, modify the stock returns by -3%, and the future returns will average out to 7%. Investment fees can also lower stock market returns. Many index funds and ETFs offer extremely low fees and expenses.

Many people receive income in retirement, such as social security, pension plans, part time jobs, annuities, and other benefits. This would allow you to take out smaller distributions every year. Please note that taxes must also be considered, but are not used in this simulation. A 401k, Roth IRA, and Traditional IRA are taxed differently than a standard investment account, as are dividends.

Note: This assumes that the future is at least somewhat like the past. In reality, anything could happen. The Soviet Union collapsed, Japan's Nikkei Index is still well below its 1989 peak. Numerous other markets have changed drastically and never recovered. However, this online tool is helpful in retirement planning and estimating how much you might need for retirement, especially those hoping to retire early. We recommend receiving advice from a financial planner.

Want to retire with $890,000?

Depending on your rate of return and investment timeframe, you'll need to save this amount every month.
2%4%6%8%10%17.1%
1 years$73,495$72,841$72,202$71,579$70,970$68,919
2 years$36,384$35,706$35,050$34,413$33,795$31,745
3 years$24,015$23,334$22,679$22,049$21,441$19,456
4 years$17,832$17,153$16,505$15,885$15,292$13,388
5 years$14,123$13,448$12,808$12,201$11,625$9,806
6 years$11,651$10,982$10,351$9,757$9,198$7,467
7 years$9,886$9,222$8,602$8,022$7,481$5,836
8 years$8,563$7,905$7,295$6,729$6,206$4,648
9 years$7,534$6,883$6,283$5,732$5,226$3,753
10 years$6,712$6,067$5,478$4,941$4,453$3,063
11 years$6,040$5,401$4,823$4,300$3,830$2,520
12 years$5,480$4,848$4,280$3,772$3,319$2,087
13 years$5,006$4,381$3,824$3,330$2,894$1,737
14 years$4,601$3,982$3,436$2,956$2,537$1,452
15 years$4,250$3,638$3,102$2,636$2,234$1,218
16 years$3,943$3,338$2,812$2,360$1,974$1,025
17 years$3,673$3,074$2,559$2,121$1,750$864
18 years$3,432$2,840$2,336$1,911$1,556$730
19 years$3,218$2,632$2,139$1,727$1,387$618
20 years$3,025$2,446$1,963$1,564$1,239$524
21 years$2,851$2,278$1,805$1,420$1,109$444
22 years$2,692$2,127$1,664$1,291$994$377
23 years$2,548$1,989$1,536$1,175$892$321
24 years$2,416$1,864$1,421$1,072$802$273
25 years$2,295$1,749$1,316$979$722$232
26 years$2,183$1,644$1,221$895$650$198
27 years$2,079$1,547$1,133$819$586$168
28 years$1,984$1,458$1,054$751$529$144
29 years$1,895$1,375$980$688$477$122
30 years$1,812$1,299$913$632$431$104
31 years$1,734$1,228$851$580$390$89
32 years$1,662$1,162$794$533$353$76
33 years$1,594$1,100$742$490$319$65
34 years$1,530$1,043$693$451$289$55
35 years$1,470$989$648$415$262$47
36 years$1,414$939$606$383$237$40
37 years$1,360$892$567$352$215$34
38 years$1,310$847$531$325$195$29
39 years$1,262$806$498$300$177$25
40 years$1,217$767$467$276$160$21
41 years$1,174$730$437$255$145$18
42 years$1,133$695$410$235$132$16
43 years$1,094$662$385$217$120$13
44 years$1,057$631$361$201$109$11
45 years$1,022$602$339$185$99$10
46 years$989$574$319$171$90$8
47 years$957$548$299$158$81$7
48 years$926$523$281$146$74$6
49 years$897$499$265$135$67$5
50 years$869$477$249$125$61$4

Sample Expected Returns by Investment Class

How long will my money last in retirement? Person retiring at age 60 starting with $890,000, adding $4,145 every year, while hoping to spend $44,529 every year in retirement. These numbers increase with inflation.
Reality usually performs much different than the expected returns. This uses historical averages, but anything can happen. In general, riskier investments have greater returns on average, but more volatility in the short term.
Age Total: 100% Stocks Total: 100% Bonds Total: 100% Cash Total: 47/42/11 Blend
59$890,000$890,000$890,000$890,000
60$985,056$937,886$924,091$1,028,160
61$1,038,153$936,463$907,669$1,056,897
62$1,095,173$933,479$889,205$1,083,124
63$1,156,471$928,809$868,583$1,110,582
64$1,222,432$922,323$845,682$1,139,400
65$1,293,484$913,880$820,376$1,169,722
66$1,370,094$903,335$792,533$1,201,712
67$1,452,775$890,529$762,015$1,235,550
68$1,542,092$875,299$728,676$1,271,440
69$1,638,665$857,468$692,366$1,309,609
70$1,743,175$836,851$652,927$1,350,310
71$1,856,373$813,251$610,194$1,393,827
72$1,979,082$786,459$563,994$1,440,473
73$2,112,208$756,255$514,148$1,490,602
74$2,256,747$722,406$460,466$1,544,605
75$2,413,796$684,664$402,752$1,602,919
76$2,584,560$642,770$340,801$1,666,030
77$2,770,366$596,446$274,398$1,734,479
78$2,972,672$545,401$203,320$1,808,869
79$3,193,085$489,326$127,332$1,889,868
80$3,433,372$427,895$46,190$1,978,221
81$3,695,478$360,764$0$2,074,754
82$3,981,544$287,568$0$2,185,128
83$4,293,925$207,923$0$2,311,715
84$4,635,218$121,423$0$2,450,251
85$5,008,276$27,639$0$2,602,027
86$5,416,244$0$0$2,768,471
87$5,862,585$0$0$2,985,313
88$6,351,110$0$0$3,236,728
89$6,886,017$0$0$3,512,116
90$7,471,927$0$0$3,813,868
91$8,113,932$0$0$4,144,619
92$8,817,637$0$0$4,507,272
93$9,589,216$0$0$4,905,022
94$10,435,470$0$0$5,341,390
95$11,363,890$0$0$5,820,253
96$12,382,724$0$0$6,345,883
97$13,501,060$0$0$6,922,984
98$14,728,908$0$0$7,556,738
99$16,077,295$0$0$8,252,855
100$17,558,368$0$0$9,017,624